IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), specializing in capital markets services for major private and institutional clients, announced today that it arranged $50,901,488 construction financing for The Helen, phase two of Founders Place, a three-phase for-sale luxury condominium development in the exclusive Deer Crest Neighborhood at Deer Valley Resort in Park City, Utah.
Jordan Ray, executive managing director, IPA Capital Markets, worked with Steven Buchwald, James Matheny and Rachael Krawiecki to secure the financing on behalf of the sponsor, a joint venture managed by East West Partners.
“Capital has been cautious and selective, so the substantial lender interest we generated for this deal stands out,’ said Ray. “Our strong sponsor, with a proven track record and the high-quality nature of the project were pivotal in obtaining attractive debt terms in a challenging capital market. This execution demonstrates our team’s expertise with complicated development deals.”
The Helen is Located directly across from the Mountaineer Express Lift at Deer Valley Resort and consists of 19 of the project’s 78 total condominiums.
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets
